Bitdeer boosts self-mining hashrate by 35% to 30 EH/s

SINGAPORE - Bitdeer Technologies Group (NASDAQ:BTDR), a Bitcoin mining technology company with a market capitalization of $2.78 billion, reported a 35% increase in self-mining hashrate to 30.0 EH/s in August 2025 compared to July, according to a company press release. The stock has shown significant momentum, delivering a 111.86% return over the past year despite high volatility. According to InvestingPro analysis, analysts have set price targets ranging from $17 to $33.60 for the stock.

The company mined 375 Bitcoins in August, representing a 33% increase from the previous month, driven by the deployment of its SEALMINER mining rigs. Bitdeer held 1,934 Bitcoins at the end of August. The company’s operations face challenges with a weak gross profit margin of 4.89% and negative EBITDA of $198.12 million in the last twelve months. InvestingPro subscribers can access 12 additional key insights about Bitdeer’s financial health and growth prospects.

Bitdeer has manufactured 27.8 EH/s of SEALMINER A2 mining rigs, with 18.0 EH/s deployed across facilities in the United States, Norway, and Bhutan. An additional 6.0 EH/s have been shipped to external customers, while 2.7 EH/s are in transit to company sites and 1.1 EH/s are being prepared for shipping.

The company reported that its SEALMINER A3 is in final preparation for mass production expected to begin in late September or early October, while the SEALMINER A4 is on track to achieve a chip efficiency of approximately 5 J/TH.

Bitdeer’s infrastructure expansion continues with 1,424.5 MW of electrical capacity currently online across facilities in Texas, Tennessee, Washington, Norway, and Bhutan. The company has an additional 1,265.5 MW in its development pipeline, including projects in Ohio, Ethiopia, and Canada.

"Our operational team continues to execute and we are well on our way to achieving our ambitious target of 40 EH/s of self-mining by the end of October 2025," said Matt Kong, Chief Business Officer at Bitdeer, in the statement. With a beta of 2.23, the stock exhibits higher volatility than the broader market. Discover comprehensive analysis and valuation metrics in the Pro Research Report, available exclusively to InvestingPro subscribers.

The company’s Bitdeer.AI cloud business reached $8 million in annualized run-rate revenue in August from GPU cloud services, with significant growth expected in the fourth quarter of 2025.

In other recent news, Bitdeer Technologies Group announced its plan to redeem all outstanding convertible senior notes totaling $7.7 million ahead of their 2029 maturity date. The company has set September 23, 2025, as the cleanup redemption date for these 8.50% convertible senior notes. Following Bitdeer’s second-quarter 2025 earnings release, Benchmark reiterated its Buy rating on the stock, maintaining a price target of $240.00, citing "meaningful progress" across all business segments. Cantor Fitzgerald raised its price target for Bitdeer to $25.00 from $23.00, reflecting higher peer multiples in the cryptocurrency mining sector. BTIG also maintained its Buy rating and $23.00 price target, increasing its fiscal year 2025 revenue estimate to approximately $564 million due to adjustments in third-party rig sales and self-mining exahash growth. Additionally, H.C. Wainwright reiterated its Buy rating and $19.00 price target after Bitdeer’s quarterly results exceeded expectations, driven by stronger ASIC sales. These developments highlight significant investor interest and confidence in Bitdeer’s growth outlook.

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